China's Launching Its Own Netflix-like Service

The country's government-run China Movie Channel is launching a subscription-based online service similar to Netflix later this year, according to Reuters.

The movie service, currently unnamed, will air Paramount Pictures' movies and television shows after signing a deal with the studio company. Among the selection of movie choices will be Tom Cruise's "Mission Impossible" franchise.

Paramount shouldn't be the only content provider as the service is currently negotiating rights to also stream material from Metro-Goldwyn-Mayer Inc (MGM) and other studios as well.

Videos will stream on China Movie Channel's M1905.com through a venture with Jiaflix Enterprises.

The service won't be free, rather, like Netflix, it shall impose a subscription fee to stream content.